Adding to the company's presence in Beijing and Hong Kong, it will make Luxottica the leading high-end eyewear retailer in China.
Under the rules of the fund, institutional and individual investors raising capital in the Chinese currency, the yuan, from offshore markets like Hong Kong will be able to make direct investments in China.
Chinese Estates, which owns and operates many shopping centers in Hong Kong, said it would make further announcements "if and when there is any significant development" in respect to the Macau land.
WSJ: Chinese Estates Shares Halted as Macau Weighs Land Seizure
In Hong Kong, where many foreign investors make their bets on Chinese themes, the Hang Seng Index has surged 18.5%.
Edwin Leong was born as the youngest of five sons of a relatively affluent father in Hong Kong, and grew up wanting to make his own mark.
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"People said you couldn't make money in educational toys, " he says in his modest headquarters in Hong Kong's New Territories.
"Yahoo is reporting better earnings, but it's trading down: it doesn't make sense, " says Jonathan Iu, Internet analyst at SG Securities in Hong Kong.
It would make a nice present for a friend in a distant country who knows little about Hong Kong and whose regular reading includes society magazines.
She was a DePaul MBA candidate on break working as a Ford fashion model in Hong Kong when she decided that entrepreneurship was the best way for her to make a difference.
Bill Rojas, analyst for IDC in Hong Kong, said Motorola's allegations, even though unproven, could make add to Huawei's difficulties expanding in the U.S., where it has been less successful than in other markets.
Hong Kong's Cathay Pacific has had to make four rounds of job and route cuts in the past month.
That it now takes a billion dollars to make the Hong Kong 50 (or the China 100) does not mean our correspondents lack an interest in the enterprises that are still aspiring to such heights.
These companies make up more than half of the value of Hong Kong's markets, from less than 5% in 1993.
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